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Boom
Kinds of Boom Selected AbstractsPEOPLING THE VICTORIAN GOLDFIELDS: FROM BOOM TO BUST, 1851,1901AUSTRALIAN ECONOMIC HISTORY REVIEW, Issue 2 2010Charles Fahey demography; migration; mining; Victoria Victoria experienced a surge of migration after the discovery of gold in 1851. I explore the social and geographic background of migrants lured to the colony by opportunities opened up by gold mining. When alluvial gold was exhausted, the skills of migrants enabled them to exploit the more difficult deep lead and quartz reef gold deposits and to establish cities and towns. Urban growth was encouraged by high marriage and birth rates in the 1860s. In the last two decades of the nineteenth century goldfields communities generally suffered economic and demographic declines. [source] The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social SecurityECONOMETRICA, Issue 2 2003Andrew B. Abel Is the stock market boom a result of the baby boom? This paper develops an overlapping generations model in which a baby boom is modeled as a high realization of a random birth rate, and the price of capital is determined endogenously by a convex cost of adjustment. A baby boom increases national saving and investment and thus causes an increase in the price of capital. The price of capital is mean,reverting so the initial increase in the price of capital is followed by a decrease. Social Security can potentially affect national saving and investment, though in the long run, it does not affect the price of capital. [source] Boom and Bust Cycle of the Stock Market, and Economic Growth in a Vintage Capital ModelINTERNATIONAL JOURNAL OF ECONOMIC THEORY, Issue 3 2008Takeshi Kobayashi E13; E32; O33; O47 We construct a growth model of overlapping generations with vintage capital. There exists an equilibrium that converges to the balanced growth path through endogenous fluctuations of investment, consumption, and output in terms of the growth rate. When the technological change arrives and a rise in productivity is embodied only in newly invested capital, the economy converges to a new balanced growth path with a higher growth rate of output, but when we interpret the price of existing old capital as the stock market capitalization, the rise in productivity is accompanied by an initial decline in the stock market. Oscillatory equilibria are supported as perfect-foresight equilibria in the present framework with finitely lived agents and capital. Any oscillatory equilibrium is associated with the regime switch from an economy with both young and old capital in use into one with only old capital in use. [source] Partnership and Parenthood in Post-transitional Societies: Will Specters Be Exorcised?INTERNATIONAL JOURNAL OF JAPANESE SOCIOLOGY, Issue 1 2008Nobutaka Fukuda Abstract: The purpose of this article is to reconsider partnership and parenthood in post-transitional societies from the viewpoint of sociology. As is well known, after the end of the Baby Boom, albeit with variations in the tempo and the level, a considerable decline in fertility has occurred in industrialized countries. Furthermore, this decline has occurred in tandem with the transformation of partnership such as an increase in the number of cohabited couples. The causes and effects of this decline in fertility have hitherto been studied by social scientists such as economists and demographers. Although the family has been one of the main research interests for sociologists for a long while, the changes in partnership and fertility behavior in developed countries have not been sufficiently argued from the perspective of sociological theory on family. In this article, we will initially compare and contrast two changes in fertility patterns: the first of these is the fertility decline that occurred around the latter half of the nineteenth century; the second is the change that has been observed in industrialized countries since the second half of the 1960s. We will then discuss the difference between economic and ideational approaches in the explanation of partnership and fertility changes. Finally, we will examine the convergence and the divergence theories on family change. This article will conclude with an emphasis on the importance of the middle-range theories. [source] The Effect of Bank Credit on Asset Prices: Evidence from the Japanese Real Estate Boom during the 1980sJOURNAL OF MONEY, CREDIT AND BANKING, Issue 1 2008NADA MORA bank credit; asset prices; financial regulation This paper studies whether bank credit fuels asset prices. Financial deregulation during the 1980s allowed keiretsus to obtain finance publicly and reduce their dependence on banks. Banks that lost these blue-chip customers increased their property lending, and serve as an instrument for the supply of real estate loans. Using this instrument, I find that a 0.01 increase in a prefecture's real estate loans as a share of total loans causes 14,20% higher land inflation compared with other prefectures over the 1981,91 period. The timing of losses of keiretsu customers also coincides with subsequent land inflation in a prefecture. [source] Boom in the development of non-peptidic ,-secretase (BACE1) inhibitors for the treatment of Alzheimer's diseaseMEDICINAL RESEARCH REVIEWS, Issue 2 2009Romano Silvestri Abstract ,-Amyloid cleaving enzyme-1 (BACE1) has become a significant target for the therapy of Alzheimer's disease. After the discovery of the first non-peptidomimetic ,-secretase inhibitors by Takeda Chemicals in 2001, several research teams focused on SAR development of these agents. The non-peptidic BACE1 inhibitors may potentially overcome the classical problems associated with the peptide structure of first generation, such as blood,brain barrier crossing, poor oral bioavailability and susceptibility to P-glycoprotein transport. In the past 6 years a boom in research of non-peptidic BACE1 inhibitors has disseminated findings over hundreds of publications and patents. The rapidly growing literature has been reviewed with particular emphasis on literature of pharmaceutical companies. © 2008 Wiley Periodicals, Inc. Med Res Rev, 29, No. 2, 295,338, 2009 [source] The Dynamic Effects of the US Productivity Boom on Australia,THE ECONOMIC RECORD, Issue 2007RICHARD G. HARRIS How has the USA's ,new economy' productivity boom affected Australia? We consider this question using a dynamic multisector growth model of the Australian and US economies. We find that productivity growth in the US durables sector generates small but important gains to Australia. We find that the transmission of growth is generated through increased export demand for agriculture. Consequently, the USA's productivity growth tends to favour Australia's traditional export sectors. Likewise, it increases the relative demand for less skilled labour in Australia and reduces the demand for more skilled labour and higher education. [source] The challenge of change: Canadian universities in the 21st centuryCANADIAN PUBLIC ADMINISTRATION/ADMINISTRATION PUBLIQUE DU CANADA, Issue 2 2002David M. Cameron It was a crisis of numbers, brought on by a rising participation rate and the postwar Baby Boom. The response, led initially by the federal government, was to enlarge the university system, and later the entire postsecondary sector, very rapidly through the 1950s and 1960s. In the process of rapid growth, universities changed dramatically, becoming much more democratic and laissez-faire in their management. Then came a prolonged period of restraint, as provincial governments regained a measure of control and the public became sceptical of the benefits accruing from rapidly rising expenditures in the face of tight fiscal circumstances and competing demands. University faculty attempted to secure their earlier gains through unionization and collective bargaining. The upshot, as was predicted, was that universities became much more rigid organizations, resistant to managed change, and focused on the self-interest of faculty members. We now confront a new and very different environment and face the challenges and opportunities associated with a knowledge-based economy, with its reliance on research and innovation, and its demand for a highly educated workforce. The federal government is using its new-found surpluses to invest heavily in university-based research and development. The challenge is whether universities, constrained by cumbersome and self-serving decision rules and procedures, now secured in union contracts, can respond appropriately to the new opportunities. Sommaire: Les universités ont connu une crise dans les années qui ont immédiatement suivi la guerre. C'était une crise d'éffectifs, cauée par un taux de fréquentation en hausse et par le baby-boom de l'après-guerre. La réaction initiale du gouvemement fédéral pendant les années 1950 et 1960, a été de développer très rapidement le système universitaire et plus tard tout le secteur post-secondaire. Au cours de cette croissance rapide, les universités ont changé considérablement, devenant plus democratiques et plus souples dans leur administration. Il y a eu ensuite une période de restriction prolongée, où les gouvemements provinciaux ont retrouvé un certain contrôle et le public devint sceptique au sujet des avantages découlant de dépenses croissantes pour faire face à une conjoncture de resserrement budgétaire et à une concurrence acharnée. Le corps professoral universitaire essaya de protéger les gains qu'il avait obtenus précédemment par la syndicalisation et la négotiation collective. Le résultat, comme cela était prévu, c'est que les universités sont devenues des organismes beaucoup plus rigides, résistants aux changements de gestion et axés sur l'intérêt personnel des membres du corps professoral. Nous nous trouvons aujourd'hui dans une conjoncture nouvelle et très différente. Nous devons maintenant relever les défis et tirer parti des possibilités que nous offre une économie axée sur le savoir, qui compte sur la recherche et l'innovation, et sur une main-d'æuvre hautement instruite. Le gouvernement fédéral se sert de ses surplus récents pour investir considérablement dam la recherche et le développement universitaires. Le défi est de savoir si les universités, assujetties à des régles et procédures difficiles à appliquer, intéressés, et protégées par les conventions syndicales, sauront tirer pleinement parti de nouvelles opportunités. [source] Places of Privileged Consumption Practices: Spatial Capital, the Dot-Com Habitus, and San Francisco's Internet BoomCITY & COMMUNITY, Issue 3 2008Ryan Centner Drawing from interviews and fieldwork with former dot-com workers in San Francisco, this article examines how their spatialized consumption practices formed exclusionary places of privilege during the city's millennial boom of internet companies. I focus especially on the personalized deployment of uneven social power in situations where space is at stake. After considering how this group differed from a history of other urban newcomers, I develop a framework for addressing their spatial effects as gentrification involving privileged consumption practices that surpass residential encroachments. I argue there is an exertion of spatial capital that represents the misrecognition of territorial claims, enabling this cohort to literally take place. I show this through several consumption practices that convert to and from economic, cultural, and social capital. A concluding discussion reflects on the usefulness of this case and framework for reinvigorating key urban-sociological analytics while confronting influential but unsociological characterizations of contemporary city life. [source] Booms and Busts: Consumption, House Prices and ExpectationsECONOMICA, Issue 301 2009ORAZIO P. ATTANASIO Over much of the past 25 years, house price and consumption growth have been closely synchronized. Three main hypotheses for this have been proposed: increases in house prices raise household wealth and so their consumption; house price growth reduces credit constraints by increasing the collateral available to homeowners; and house prices and consumption are together influenced by common factors. Using microeconomic data, we find that the relationship between house prices and consumption is stronger for younger than older households, contradicting the wealth channel. We suggest that common causality has been the most important factor linking house prices and consumption. [source] Capital Flows, Consumption Booms and Asset Bubbles: A Behavioural Alternative to the Savings Glut Hypothesis,THE ECONOMIC JOURNAL, Issue 544 2010David Laibson Bernanke (2005) hypothesised that a ,global savings glut' was causing large trade imbalances. However, we show that the global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries experienced consumption booms. National asset bubbles explain the international imbalances. The bubbles raised consumption, resulting in large trade deficits. In a sample of 18 OECD countries plus China, movements in home prices alone explain half of the variation in trade deficits. [source] Political Booms: Local Money and Power in Taiwan, East China, Thailand, and the Philippines , By Lynn WhiteASIAN POLITICS AND POLICY, Issue 3 2010Rowena Rivera Pangilinan No abstract is available for this article. [source] Cacao boom and bust: sustainability of agroforests and opportunities for biodiversity conservationCONSERVATION LETTERS, Issue 5 2009Yann Clough Abstract Cacao cultivation holds a sweet promise, not only for chocolate consumers and cacao farmers but also for conservationists who argue that diverse cacao agroforests may be used to sustain both livelihoods of smallholders and ecological benefits such as the conservation of biodiversity within human-dominated tropical landscapes. However, regional boom-and-bust cycles are the rule in global cacao production: after initial forest conversion to cacao agroforests, sustaining production is difficult due to dwindling yields as trees age and pest and disease pressure increases. The failure to revitalize plantations often leads to a shift of cacao production to other regions. Shade removal dynamics within these cycles substantially reduce most of the biodiversity benefits. We investigate the conservation implications of these processes. Using examples from the current cacao crisis in Indonesia, we show that until now commitments to sustainability by the cacao-chocolate sector have not been successful, which endangers remaining forests. Conservation can be combined with smallholder cacao production, but if this is to be achieved, greater quantitative and qualitative efforts to halt cacao cycles are needed on the part of the industry by making use of existing opportunities to combine sustainability, carbon storage, and biodiversity conservation. [source] SUICIDE, RISK, AND INVESTMENT IN THE HEART OF THE AFRICAN MIRACLECULTURAL ANTHROPOLOGY, Issue 4 2009JULIE LIVINGSTON ABSTRACT This essay considers new forms of investment, risk, and self-determination, among Botswana's middle and aspirant classes, as well as the loneliness and rage that are at stake when they fail. In it, I use specific instances and more widespread talk of suicides and murder,suicides contemplated, attempted, and accomplished as a vehicle for pondering the social dimensions of investment, and the perils of secrecy and the loneliness that shadow it. Amid a new regime of risk, investment, and self-determination brought by discontinuities of economic boom and widespread AIDS death over the past decade, Batswana are facing new questions about how to invest in relationships, selves, and futures. The essay concludes with a radically different context, a cancer ward, where Batswana seek to exile suicide and nihilism from the beds, minds, and hearts of patients through processes of socialization and paternalism that deny self-determination, while at the same time questing for and demanding investment in high-tech biomedicine. [source] "Let's Go to MY Museum": Inspiring Confident Learners and Museum Explorers at Children's MuseumsCURATOR THE MUSEUM JOURNAL, Issue 1 2007Carol Enseki Recent guests have arrived from as far away as Israel, Ecuador, Japan, and Australia, and as nearby as the Bronx. In the United States, children's museums represent one of the youngest and fastest growing cultural sectors. Our field was founded in 1899 with the opening of the Brooklyn Children's Museum. Anna Billings Gallup, an influential curator and director at the museum from 1902 to 1937, spoke widely about the value of bringing the child into the forefront of museum activities. In the United States, the field grew slowly but steadily to four children's museums in 1925 and to approximately 38 by 1975. In the last three decades, sparked by the groundbreaking work of Michael Spock at the Boston Children's Museum, the field has been energized by an extraordinary boom in new and expanding children's museums. Today there are approximately 350 worldwide. [source] Mapping Common Futures: Customary Communities, NGOs and the State in Indonesia's Reform EraDEVELOPMENT AND CHANGE, Issue 1 2005Carol Warren The post-Suharto ,Reform Era' has witnessed explosive revitalization movements among Indonesia's indigenous minorities or ,customary'(adat) communities attempting to redress the disempowerment they suffered under the former regime. This study considers the current resurgence of customary claims to land and resources in Bali, where the state-sponsored investment boom of the 1990s had severe social and environmental impacts. It focuses on recent experiments with participatory community mapping, aimed at reframing the relationship between state and local institutions in planning and decision-making processes. Closely tied to the mapping and planning strategy have been efforts to strengthen local institutions and to confront the problems of land alienation and community control of resources. The diversity of responses to this new intervention reflects both the vitality and limitations of local adat communities, as well as the contributions and constraints of non-governmental organizations that increasingly mediate their relationships to state and global arenas. This ethnographic study explores participants' experiences of the community mapping programme and suggests its potential for developing ,critical localism' through long-term, process-oriented engagements between communities, governments, NGOs, and academic researchers. [source] Restructuring Uganda's Coffee Industry: Why Going Back to Basics MattersDEVELOPMENT POLICY REVIEW, Issue 4 2006John Baffes After experiencing a boom during the mid-1990s, the performance of Uganda's coffee industry has been disappointing. Most existing analysis sees the sector's problems as quality deterioration, a poor marketing position in the global market, a weak regulatory framework, and poor infrastructure. Recommendations range from setting up a coffee auction to increasing the share of specialty coffees. This article concludes that such advice has been largely inconsistent with the stylised facts of the Uganda coffee industry, and it argues that coffee wilt disease and the effectiveness of the coffee replanting programme are the two key issues on which policymakers and the donor community should focus their activities and allocate their resources. [source] The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social SecurityECONOMETRICA, Issue 2 2003Andrew B. Abel Is the stock market boom a result of the baby boom? This paper develops an overlapping generations model in which a baby boom is modeled as a high realization of a random birth rate, and the price of capital is determined endogenously by a convex cost of adjustment. A baby boom increases national saving and investment and thus causes an increase in the price of capital. The price of capital is mean,reverting so the initial increase in the price of capital is followed by a decrease. Social Security can potentially affect national saving and investment, though in the long run, it does not affect the price of capital. [source] Trading options before Black-Scholes: a study of the market in late seventeenth-century London1ECONOMIC HISTORY REVIEW, Issue 2009ANNE L. MURPHY This article uses data from the ledgers of the financial broker Charles Blunt to explore the market in equity options that emerged in London during the stock market boom of the early 1690s. Blunt's ledgers provide a unique opportunity to observe the workings of an early modern derivatives market. They reveal a broadly based and highly active trade in options. The market functioned well, determined value using agreed criteria, and was utilized by a diverse range of individuals to facilitate both risk-seeking and risk-averse investment strategies. [source] Financial markets can go mad: evidence of irrational behaviour during the South Sea Bubble1ECONOMIC HISTORY REVIEW, Issue 2 2005RICHARD S. DALE This paper explores investor behaviour during the South Sea Bubble,the first major speculative boom and bust on the stock markets. Previous literature debates whether investors during this episode acted rationally. Newly acquired data involving parallel markets for the South Sea Company's stock and subscription receipts are analysed, and widening valuation gaps are observed between these substitutable financial instruments. Rational explanations do not prove adequate, and the anomalies are explained by the biased decision-making of investors, and their tendency to view financial markets as wagering markets. The implications of these findings for the current debate on rationality in financial markets are identified. [source] Housing Wealth and UK ConsumptionECONOMIC OUTLOOK, Issue 4 2006Article first published online: 13 NOV 200 There is widespread disagreement about the role of housing wealth in explaining consumption. However, much of the empirical literature is marred by poor controls for the common drivers both of house prices and consumption, such as income, income growth expectations, interest rates, credit supply conditions, other assets and indicators of income uncertainty (e.g. changes in the unemployment rate). For instance, while the easing of credit supply conditions is usually followed by a house price boom, failure to control for the direct effect of credit liberalisation on consumption can over-estimate the effect of housing wealth or collateral on consumption. This paper (Janine Aron, John Muellbauer and Anthony Murphyi, October 2006) estimates an empirical model for UK consumption from 1972 to 2005, grounded in theory, and with more complete empirical controls than hitherto used. [source] China and the UK EconomyECONOMIC OUTLOOK, Issue 5 2004Article first published online: 29 OCT 200 China's boom has been a major pillar of the global economic recovery from early 2002 onwards. However, earlier this year fears that the economic boom was threatening to run out of control prompted the Chinese authorities to implement a number of targeted measures to try to restrain activity in the most overheated sectors. This article by Simon Knapp discusses both how much the UK has benefited from the China boom and how much it might be affected if the Chinese slowdown now becomes a hard landing. It argues that emerging Asia, Japan and raw materials producers have been the principal beneficiaries of the China boom, while the UK's gains have been small, because exports to the whole of Asia only account for 9% of the total. Equally, looking forward, the UK, and the UK's two major trading partners, the US and Eurozone, would only be relatively lightly affected if Chinese growth decelerated rapidly, as they would be helped by offsets such as lower oil prices and a lower interest rate profile. However, the current evidence suggests that the Chinese economy is slowing down in broadly the way the government wants, with the greatest deceleration in the previously overheated sectors but relatively little impact on the export and consumer sectors. An abrupt halt in bank lending could, however, still pose a significant downside risk. [source] How sustainable is the Japanese recovery?ECONOMIC OUTLOOK, Issue 4 2004Article first published online: 14 OCT 200 For nearly two years the Japanese economy has grown significantly faster than commentators expected, raising the question of whether the country has finally broken out of its long economic malaise. This article by Simon Knapp examines recent developments to see whether this recovery is sustainable. It argues that over the last year the recovery has broadened out beyond merely the export sector, although there are good reasons to believe that growth as measured by GDP has been overstated and that many serious structural problems remain. Business investment has surged on the back of rising profitability and an improved labour market has helped lift consumer confidence. At the same time the paper recognises the importance of China's boom in stimulating the Japanese economy over the last two years, and estimates that this factor may have boosted the level of GDP by between 1 to 2%. With Chinese growth now moderating to more sustainable levels, export growth will slow over the next year or so. However, domestic demand should now be strong enough, in the absence of major external shocks, to generate GDP growth of around 1.5 to 2% per annum in the medium term; a respectable figure given the country's falling population. [source] Equity Markets & the EconomyECONOMIC OUTLOOK, Issue 2 2001John Muellbauer Media commentary in the New Year has seen the word ,recession' increasingly associated with short-term US prospects, which seemed so positive only half a year ago. In this article, John Muellbauer discusses this ,boom to bust' phenomenon, the role of asset prices and the wider ramifications for global growth, exchange rates and the UK economy. [source] On the Political Economy of Temporary Stabilization ProgramsECONOMICS & POLITICS, Issue 2 2002Laura Alfaro This paper provides a political economy explanation for temporary exchange-rate-based stabilization programs by focusing on the distributional effects of real exchange-rate appreciation. I propose an economy in which agents are endowed with either tradable or non-tradable goods. Under a cash-in-advance assumption, a temporary reduction in the devaluation rate induces a consumption boom accompanied by real appreciation, which hurts the owners of tradable goods. The owners of non-tradables have to weigh two opposing effects: an increase in the present value of non-tradable goods wealth and a negative intertemporal substitution effect. For reasonable parameter values, owners of non-tradables are better off. [source] Edgar Kant (1902,1978): A Baltic PioneerGEOGRAFISKA ANNALER SERIES B: HUMAN GEOGRAPHY, Issue 3 2005Anne Buttimer Abstract It is indeed a joy to speak about Edgar Kant on this occasion which celebrates the hundredth anniversary of his birth. His lifepath traversed only two-thirds of this eventful century, yet he did experience directly many of its dreams and realities, the passion and pain of war and peace, of economic boom and bust, of national liberation, scientific revolutions, exile and the traumas of geopolitical transformations. The twentieth century also witnessed profound changes in practices of geography and the name of Edgar Kant deserves an honoured place as pioneer of many influential turns in the discipline. It is especially delightful to simultaneously honour his mentor and friend, Johannes G. Granö, who stirred his imagination in conceptual directions which were truly novel in those days-directions which later spawned enthusiastic research on environmental perceptions, time geography, and-most especially-landscape and cultural identity. [source] Macroeconomic News and Stock Returns in the United States and GermanyGERMAN ECONOMIC REVIEW, Issue 2 2006Norbert Funke Stock markets; macroeconomic news Abstract. Using daily data for the January 1997 to June 2002 period, we analyze similarities and differences in the impact of macroeconomic news on stock returns in the United States and Germany. We consider 27 different types of news for the United States and 12 different types of news for Germany. For the United States, we present evidence for asymmetric reactions of stock prices to news. In a boom (recession) period, bad (good) news on GDP growth and unemployment or lower (higher) than expected interest rates may be good news for stock prices. In the period under consideration there is little evidence for asymmetric effects in Germany. However, in the case of Germany, international news appears at least as important as domestic news. There is no evidence that US stock prices are influenced by German news. The analysis of bi-hourly data for Germany confirms these results. [source] Optimal Policy for Financial Market Liberalizations: Decentralization and Capital Flow ReversalsGERMAN ECONOMIC REVIEW, Issue 1 2000Theo S. Eicher Financial market liberalizations are an integral part of economic development. While initial booms in investment and output are commonly seen as signs of successful deregulation, they often reverse at a later stage as international capital flows turn negative and economic growth slows markedly. Such reversals of fortunes have commonly been attributed to incorrect policies that supposedly followed the initial, appropriate measures. It is unclear, however, if capital flow reversals are actually the result of policy reversals, or if they occur as part of the normal transition when financial liberalization is accompanied by a single suboptimal policy. The later hypothesis has not been explored in the theoretical literature We construct a general equilibrium growth model of a small open economy, in which capital flow reversals are the result of a single, suboptimal policy imposed at the beginning of the financial liberalization. We show how improper taxation of foreign borrowing initially leads to strong growth fuelled by an investment boom and foreign borrowing. Still along the transition, however, the model predicts that capital flows must reverse endogenously at a later stage, as the debt burden rises and the country-specific risk premium increases. Our data on the Latin American and East Asian countries provide strong support for our hypothesis. [source] The Role of Education in Self,Employment Success in FinlandGROWTH AND CHANGE, Issue 2 2002Aki Kangasharju This paper analyzes the effect of self,employed persons' education on the success of their firms during the economic downturn and upturn of the 1990's. It is found that the business cycle affects the relative closure rates of firms run by self,employed with any level of education. Exit probability is lower for the highly educated during bust, but higher in boom. This is accounted for by two facts. First, running a small firm is argued to be a less attractive choice to wage work, particularly for the highly educated, due to lower earning prospects, less stable stream of earnings, and the cultural tradition of working in large corporations. Second, the highly educated faced a higher outside demand for their labor than did the less educated during economic upturn. Finally, it was found that regardless of the state of aggregate economy, firms run by the highly educated have higher growth probabilities than those run by less educated persons. [source] Optimizing image matches via a verification modelINTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS, Issue 11 2010Jimmy Addison Lee In the literature, we have seen a boom in wide-baseline matching approaches proposed for locating correspondences between images. However, wrong correspondences or the so-called outliers are still rather inevitable, especially in urban environments with the presence of repetitive structures, and/or a large dissimilarity in viewpoints. In this paper, we propose a verification model to optimize the image matching results by significantly reducing the number of outliers. Several geometric and appearance-based measurements are exploited, and conditional probability is used to compute the probability of each true correspondence. The model is validated by extensive experiments on images from the ZuBud database, which are taken in different weather conditions, seasons, and with different cameras. It is also demonstrated on a real-time application of an image-based navigation system. © 2010 Wiley Periodicals, Inc. [source] | ||||||||||||||||||||||||||||||||||||||||||||||